Lagos Chamber of Commerce Supports 15% Import Tax on Petrol to Boost Local Refining Capacity

The Lagos Chamber of Commerce and Industry (LCCI) has endorsed the 15% import tax on petrol and diesel as a positive economic policy to promote local refining and energy self-sufficiency. Dr.

Chinyer Almona, the Director-General of LCCI, highlighted the importance of enhancing local refining capacity to meet national demand and stabilize prices. She urged the government to prioritize existing local refineries' operations and collaborate with the private sector to avoid supply shortages and price instability.

The chamber emphasized the need for a comprehensive framework to improve cost efficiency and maintain investor confidence.